BitTorrent nets $20m windfall

New investment enables development of BitTorrent sharing

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The suits in charge of peer-to-peer pioneering company, BitTorrent , have secured a £10m cash boost.

The additional funds, procured largely from new investor Accel Partners , will be spent expanding the BitTorrent empire by developing its software to be used as the standard online delivery system for licensed content.

"This mission is still what drives BitTorrent today, and could not be more relevant as the web grows into a channel for consuming large, high-value entertainment and information content," said chief executive of BitTorrent, Bram Cohen.

"When I created BitTorrent in 2001, my mission was to solve the problem every website has when distributing large, popular files." James Rivington